CCLA has facilitated the creation of AdviserAction, a membership organisation comprising of select advisory firms, to engage with companies on sustainability issues.
Castlefield, Clear Financial Advice, ESG Accord, Fintel PLC, Kellands Chartered Financial Planners, Lyndhurst Financial Management and Paradigm Norton are among the founding members who will focus on interacting with listed firms in order to drive sustainable outcomes.
AdviserAction aims to empower UK advisers to enhance clients’ interests in sustainable outcomes and pool resources for corporate engagement. It aims to support advisers in delivering on sustainability commitments and will provide tools, transparency, visibility, and training on key sustainable finance issues.
AdviserAction, which is open to all adviser firms, will be overseen by an advisory committee, with CCLA providing support and coordination for the group’s activities.
CCLA chief executive Peter Hugh Smith says: “With the final rules on the FCA’s Sustainability Disclosure Requirements now published, we believe engagement is more important than ever as a way that investors can encourage companies towards sustainability improvements and make a noticeable difference, whatever the size or scope of their portfolio. This initiative will, for the first time, empower independent financial advisers to speak on behalf of their customers to the firms they ultimately invest in, and to participate in working towards a better world.”
Castlefield founder and chair John Eckersley says: “We’re delighted to be part of this innovative partnership, as it brings together some of the leaders in sustainable investment and complements our existing engagement activities. The AdviserAction initiative will enable advisers to experience company engagement first-hand and, in turn, to talk to their clients about the benefits of investing in funds with active stewardship programmes.”
Clear Financial Advice investment specialist Louis Greening says: “Advisers have needed evidence that engagement works. This platform is not just a way of showing that good engagement works – it also helps advisers do better by their own employees. We also feel this will help connect clients more fully to their investments.”
ESG Accord (Accord Initiative) director Lee Coates says: “We are fully behind this exciting initiative. Providing advisers’ clients with the ability to directly engage on issues that are important to them will be very welcome. We believe it will enhance the client-adviser relationship and lead to better engaged and better-informed investors. It will also demonstrate another benefit of seeking financial advice.”
Lyndhurst Financial Management director Geoff Newman says: “Increasingly our clients want to know what difference their investments make and finally we have a way of evidencing that. We are delighted to have this opportunity to engage and make collaborative change happen.”
Paradigm Norton investment committee deputy chair Farida Hassanali says: “We strongly believe in the power of engagement and are delighted to join this collaborative approach to help evidence this in action.”
